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Car insurer Admiral names new CFO, posts 2 pct rise in profit
August 13, 2014 / 6:23 AM / 3 years ago

Car insurer Admiral names new CFO, posts 2 pct rise in profit

LONDON, Aug 13 (Reuters) - British motor insurer Admiral Group Plc named Geraint Jones its new chief financial officer, saying Kevin Chidwick gave up the role to focus on his position as CEO of the company’s Elephant Auto Insurance business in the United States.

Jones, who will take the role with immediate effect, has been deputy CFO since January 2012, Admiral said in a statement.

It posted a 2 percent rise in adjusted pretax profit to 184.9 million pounds ($311 million) for the first-half ended June, helped by a 9 percent increase in customer numbers.

Admiral raised its interim dividend by 1 percent to 49.4 pence per share and said expectations for its UK business were unchanged in 2014.

$1 = 0.5945 British pounds Reporting by Richa Naidu; Edited by Nishant Kumar

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